PFRDA Orders : Additional Benefit on death/disability of government servant covered by National Pension System (NPS)

Additional Benefit on death/disability of government servant covered by National Pension System (NPS)

PENSION FUND REGULATORY AND DEVELOPMENT AUTHORITY

Cir no: PFRDA/ 2013/2/ PDEX / 2                                                                  

SL-5

Subject:  Additional Benefit on death/disability of government servant covered by National Pension System (NPS)

PFRDA has in past replied to various queries received from various government  departments in reference to OM No. 38/41/P&PWA (A) issued by DoP & PW’s dated 05/05/2009 with respect to the additional relief on death/disability of government servants covered by the new Defined Contributory Pension System (NPS). 

The said information is being re-iterated hereunder for the information of all stakeholders for a better appreciation of the matter.

It has been decided that additional benefits provided in terms of the said OM are over and above the benefits provided by the National Pension System, as per para 3 of the OM.In case the recovery of the accumulated pension wealth under NPS account is to be undertaken as per government’s decision, it has to be done by the department concerned directly from the subscriber/nominees/legal heirs after due payment from NPS system to them, in order to fulfill the contractual obligations under NPS.

Source: www.pfrda.org.in